Atom Investors LP boosted its position in Forterra Inc (NASDAQ:FRTA) by 45.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 337,940 shares of the construction company’s stock after acquiring an additional 104,980 shares during the period. Atom Investors LP’s holdings in Forterra were worth $3,771,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of FRTA. BNP Paribas Arbitrage SA boosted its holdings in shares of Forterra by 113.6% during the first quarter. BNP Paribas Arbitrage SA now owns 5,824 shares of the construction company’s stock worth $35,000 after purchasing an additional 3,097 shares during the last quarter. Citigroup Inc. raised its stake in Forterra by 66.8% during the first quarter. Citigroup Inc. now owns 6,320 shares of the construction company’s stock worth $38,000 after purchasing an additional 2,532 shares during the period. Advisor Group Holdings Inc. purchased a new position in Forterra during the first quarter worth approximately $41,000. Bank of Montreal Can boosted its holdings in shares of Forterra by 69.3% in the 2nd quarter. Bank of Montreal Can now owns 3,710 shares of the construction company’s stock valued at $42,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Forterra during the 1st quarter valued at $62,000. Institutional investors own 96.25% of the company’s stock.
FRTA stock traded down $0.04 during trading hours on Friday, hitting $13.62. 250,000 shares of the stock traded hands, compared to its average volume of 291,319. Forterra Inc has a one year low of $3.45 and a one year high of $19.00. The stock has a 50-day simple moving average of $13.84 and a 200 day simple moving average of $10.27. The company has a market cap of $888.49 million, a P/E ratio of 34.05 and a beta of 2.51. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 9.77.
Forterra (NASDAQ:FRTA) last released its earnings results on Monday, July 27th. The construction company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $426.19 million for the quarter, compared to analysts’ expectations of $420.00 million. Forterra had a return on equity of 23.56% and a net margin of 1.75%. Analysts forecast that Forterra Inc will post 0.77 earnings per share for the current year.
FRTA has been the topic of a number of research analyst reports. SunTrust Banks upgraded Forterra from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $19.00 in a report on Wednesday, July 1st. TheStreet raised Forterra from a “d+” rating to a “c” rating in a research note on Wednesday, June 24th. Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a report on Wednesday, August 12th. Royal Bank of Canada restated a “neutral” rating on shares of Forterra in a report on Thursday, August 13th. Finally, BidaskClub downgraded shares of Forterra from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Forterra presently has an average rating of “Hold” and an average target price of $13.67.
Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
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